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Spring Wheat Dec '18 (MWZ18)

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cmdty Insider - Spring Wheat Market Commentary


Wheat futures gave back most of Monday’s gains on Turnaround Tuesday, with nearby CBT December down 12 cents. KC and MPLS were 4 to 7 cents in the red. The USDA indicated that 342,157 MT of wheat was shipped in the week that ended on 11/8. That was slightly higher than the prior week and 10.85% more than the same week in 2017. Japan is seeking 120,226 MT of US, Canadian and Australian wheat in their weekly MOA tender to close on Thursday, with 50,327 MT US origin. NASS reported winter wheat planting was 89% complete as of Sunday, still lagging the 94% average. Emergence was at 77%, behind the normal pace of 83%. Conditions improved 3% to 54% gd/ex with the Brugler500 up the same at 348.Dec 18 CBOT Wheat closed at $5.07 3/4, down 12 cents,Dec 18 KCBT Wheat closed at $4.86 1/2, down 7 cents,Dec 18 MGEX Wheat closed at $5.78 1/4, down 4 1/4 cents--provided by Brugler Marketing & Management

Contract Specifications

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Contract
Hard Red Spring Wheat
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:30p.m. (Sun-Fri) CST
Exchange
MGEX
Point Value
$50
Margin/Maintenance
$1,430/1,300
First Notice Date
11/30/18 (17 days)
Expiration Date
12/14/18 (31 days)

Seasonal Chart

Spring Wheat Dec '18
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Nov 6, 2018

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Commercials - Long / Short
46,454 (+3,706)
37,701 (+2,865)
Non-Commercials - Long / Short
13,450 (+61)
21,466 (+589)
Producers - Long / Short
42,802 (+3,804)
37,602 (+2,827)
Swap Dealers - Long / Short
3,553 (-136)
0 (unch)
Managed Money - Long / Short
7,427 (-179)
13,473 (-556)
Other Reportables - Long / Short
6,023 (+240)
7,993 (+1,145)
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Price Performance

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Period Period Low Period High Performance
1-Month
565-6 +2.21%
on 10/31/18
602-2 -3.99%
on 10/15/18
-17-6 (-2.98%)
since 10/12/18
3-Month
560-2 +3.21%
on 09/13/18
631-6 -8.47%
on 08/17/18
-32-0 (-5.24%)
since 08/13/18
52-Week
542-2 +6.64%
on 07/12/18
660-4 -12.45%
on 05/29/18
-66-2 (-10.28%)
since 11/13/17

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Most Recent Stories

More News
Wheat Market Commentary

Wheat futures gave back most of Monday’s gains on Turnaround Tuesday, with nearby CBT December down 12 cents. KC and MPLS were 4 to 7 cents in the red. The USDA indicated that 342,157 MT of wheat...

Corn Market Commentary

Corn futures closed 4 to 5 cents lower in the front months on Tuesday. Ethanol was lower in sympathy with a sharp drop in crude oil. Shipments of corn during the week of 11/8 were tallied at 1.137 million...

Soybeans Market Commentary

Soybean futures saw losses of 5 or more cents on Tuesday, excluding soon to expire Nov. Front month soy meal was down $1.70/ton, with soy oil 16 points in the red. A private export sale of 276,732 MT (~10...

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DJ CBOT Delivery Intentions: Totals – Nov 13 Source: CME Group Contract Quantity Next Trade Commodity Month Delivery Day Assigned Today Date [...]

Corn Market Commentary

Corn futures are mostly 3 to 4 cents in the red on Tuesday. Ethanol is lower at midday to coincide with sharp losses in crude oil. Shipments of corn during the week of 11/8 were tallied at 1.137 million...

Soybeans Market Commentary

Soybean futures are down 2 to 3 cents in the nearby contracts at midday. Front month soy meal is $1.30/ton lower, with soy oil 9 points in the red. A private export sale of 276,732 MT of 18/19 soybeans...

Wheat Market Commentary

Wheat futures are showing 6 to 10 cent losses in the winter wheat contracts on Turnaround Tuesday, with MPLS down 1 to 3 cents. The USDA indicated that 342,157 MT of wheat was shipped in the week that...

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We would appear to have a typical Tuesday undo session underway as the markets that were strong yesterday are weak this morning and vice versa for the markets that were lower yesterday. Of course, realistically...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 40% Sell with a Strengthening short term outlook on maintaining the current direction.

Longer term, the trend strength is Minimum. Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 585-2
1st Resistance Point 581-6
Last Price 578-2s
1st Support Level 575-4
2nd Support Level 572-6

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52-Week High 660-4
Fibonacci 61.8% 615-3
Fibonacci 50% 601-3
Fibonacci 38.2% 587-3
Last Price 578-2s
52-Week Low 542-2

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